Dehradun, Feb. 8 -- The Union Budget 2026-27 reflects the confidence and maturity of an economy that has undergone a fundamental transformation since 2014, Union minister for petroleum and natural gas Hardeep Singh Puri said on Saturday in Dehradun. Addressing the media in the state's capital, Puri said the Budget strikes a careful balance between promoting growth and maintaining fiscal discipline, underscoring India's journey from being counted among the "fragile five" to becoming the world's fourth-largest economy and one of the most trusted global growth stories. "The Budget is forward-looking and consolidation-oriented, building on the foundations laid over the past decade while preparing India for the next phase of global leadership," he said. The minister said India's GDP growth for FY26 is estimated at 7.4%, driven by consumption and investment, reaffirming the country's position as the fastest-growing major economy for the fourth consecutive year, even as global growth hovers around 3%. "India has recorded a sharp improvement in price stability since 2014 and the country registered the steepest reduction in headline inflation among major economies in 2025, at around 1.8%," he said. He said inflation averaged about 1.7% between April and December 2025, supported by lower food prices, particularly vegetables and pulses, and added that India's inflation levels are significantly lower than those in several advanced and emerging economies. On the shift towards capital-led growth, Puri said "Capital expenditure in 2026-27 stands at about Rs.12.2 lakh crore, an increase of over 430% compared to 2013-14. Allocations for national highways have risen by about 500%, defence by over 210%, health and family welfare by nearly 176% and education by over 110%. Infrastructure spending has become a key growth engine, with every rupee spent on national highway development generating Rs.3.2 in GDP." The minister said sustained investment since 2014 has strengthened defence and strategic capabilities, reduced import dependence and accelerated indigenous defence manufacturing in line with the Aatmanirbharta vision. "Human capital development has remained central to India's growth over the past decade, with the number of IITs increasing from 16 to 23, IIMs from 13 to 21, AIIMS from 7 to 23 and medical colleges from 387 to 819 since 2014. International IIT campuses in Zanzibar and Abu Dhabi reflect global recognition of India's education ecosystem," he said. Highlighting infrastructure expansion, the minister said national highways have increased from about 91,000 km in 2014 to nearly 1.46 lakh km, metro networks have expanded beyond 1,000 km, and the number of airports has more than doubled to around 160. He said more than 57,000 km of national highways were constructed over the last five years, generating about 33 crore person-days of employment annually. He added that over 164 Vande Bharat Express trains are operational, with 260 sleeper trainsets planned, and that indigenous technologies will power seven newly announced high-speed rail corridors. "India has invested over Rs.2.5 lakh crore since 2014 in domestically building more than 2,000 metro coaches, while under the UDAN scheme, 1.5 crore passengers have flown on previously unserved routes, making India the world's third-largest domestic aviation market," he said. On MSMEs and clean growth, he said the Budget aligns competitiveness with sustainability through initiatives such as Bio-Pharma SHAKTI, an MSME Growth Fund and clean energy missions. Summing up, he said the Budget recognises India's decade-long transformation and lays the foundation for sustained, inclusive and innovation-driven growth towards a truly Aatmanirbhar and Viksit Bharat. Suryakant Dhasmana, vice-president of the Uttarakhand Pradesh Congress Committee termed Union minister Hardeep Singh Puri's claims on the Union Budget "misleading", citing a weakening rupee against the dollar and rising gold and silver prices as indicators of economic stress. "The government weakened crucial sectors like agriculture and education....doesn't has no vision for the fields of science, technology, research, and higher education, and that ONGC, the biggest pillar of the department headed by Puri, is now in danger because the central government wants to strengthen Ambani and Adani in the oil and gas sector, not ONGC and GAIL," he said....